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Did you get into debt over Christmas

(87 Posts)
overthehill Tue 16-Jan-18 13:56:17

Lots of people seeking debt management after Christmas.
I'm guessing, but could be wrong, that folk our age do not overspend and get into trouble. There again, could be wrong.
We are lucky, we have a small family and we've cut down and out on present giving. Our DD hosted Christmas day and my contribution was a home made Christmas cake and dinner Boxing Day.
Apart from spending money on the GC we didn't spend too much and we would personally never borrow money for Christmas

MissAdventure Tue 16-Jan-18 14:11:42

I wouldn't ever get in to debt for Christmas. If I had only 2 or 3 pounds to spend, then that's what I would spend.

BlueBelle Tue 16-Jan-18 14:21:14

I have never ever got into debt and even when I had nothing I trawled the charity shops all year round for presents to put away

Teetime Tue 16-Jan-18 14:33:49

No. I set a budget which was the same as last year and stuck to it.

Greyduster Tue 16-Jan-18 15:01:28

We have never spent money we don’t have, and certainly not on Christmas. We always set a budget - and then DH always blows it, but only because we can afford it and he loves Christmas.

MissAdventure Tue 16-Jan-18 15:04:16

I spent 20 on the lot one time. That included my daughters one present, which was cheaper because it was a display watch, and didn't have a box. Enough for a roast dinner, and a box of mince pies. The sky didn't fall in, and she wasn't damaged for life.

Day6 Tue 16-Jan-18 15:05:53

No, I have had to live within my means for a long time. I cannot afford to repay debts so am careful not to go too mad. I am lucky in that I have a partner to share some costs but we are both starting to feel the pinch of living on a limited income/our occupational pensions. We had a lovely Christmas, all the same.

M0nica Tue 16-Jan-18 15:50:03

I have always budgeted for it, and stuck to it. But we have never gone in for either OTT competitive gift giving or giving the children everything they asked for.

We did have one year when money was very tight and like Blubelle presents were home made or came from charity shops. DC remember it as one of their best Christmases ever!

mollie Tue 16-Jan-18 16:19:51

I used to, when I was a single mum. January was always a nightmare for obvious reasons, but that was a long time ago and I’m older and wiser. We only have a tiny family and presents now are a token so there’s no need to overspend.

Grannyben Tue 16-Jan-18 19:03:37

I'm on a very tight budget so I save every month with the park vouchers. That way I know I've got enough put by for my closest family. I would never get into debt and spend what I hadn't saved

Grannyknot Tue 16-Jan-18 19:25:44

Nooo...! Who does that?

M0nica Tue 16-Jan-18 22:56:35

Too many.

paddyann Wed 17-Jan-18 01:10:28

I start collecting for my present cupboard in March...I have 25 to buy for and I get the wee ones things last as they tend to change their minds throughout the year or grow at an alarming rate .I've always been organised like this and my daughter does the same .With food i buy all the things that can be frozen in October so its just fresh stuff the last week ...except christmas puddings which I buy in January as they are much better after a year maturing.Make my christmas cake in October too so it can be fed .I still spend too much but as its all paid well in advance of Christmas I dont stress about it.

ElaineI Wed 17-Jan-18 20:04:12

I save up over the year and don't go over my budget - have a list for everything presents, food, drinks. It works well.

lemongrove Wed 17-Jan-18 20:06:26

No, not into debt, just spend what we think is the right amount.

DanniRae Wed 17-Jan-18 21:18:22

No, don't get into debt - never have and never will!

vampirequeen Thu 18-Jan-18 06:50:53

I did when I was with the ex because it was the only way to get the girls any presents. I didn't go mad and bought throughout the year but sometimes had to use store cards. I used to buy extra groceries all year so that at Christmas I could use my house keeping money for Christmas food.

Now I don't overspend. I still shop throughout the year but even though I have a smaller income I can manage it better because DH doesn't steal money from me like the ex used to.

Skweek1 Thu 18-Jan-18 10:05:50

I did overspend somewhat, mainly because DH wanted a new relatively expensive keyboard and since he's not expected to be around next Christmas, I wanted him to have what he wanted. As it happens, there is a problem with non-availability of the item, so have raised case against vendor. This being almost half of all my Christmas spending, I don't really regard it as overspending, especially as I can pay off everything, including interest, within 2 months. All food paid for on Xmas clubs and prepayment plans etc, so now sorting out next year's food.

AlexG Thu 18-Jan-18 10:06:14

No. Put away £100 a month and that amply covers Christmas even though I've got 7 grandchildren and that turns out costly. Have been saving for Christmas since mid-80s and it works well

Esspee Thu 18-Jan-18 10:10:54

The older generation has a different relationship to money.
I have never been in debt yet they seem to always be spending money they don't have.
Don't know how they can sleep at night.

knspol Thu 18-Jan-18 10:14:14

Have already bought two presents for next Christmas in the sales and will continue in same vein throughout the year. Only ever spend what I have never on credit. Also started keeping a list of what I've bought people in previous years so I don't duplicate - memory not what it was.

Coconut Thu 18-Jan-18 10:46:55

Ditto knspol, I have already bought several Xmas and birthday gifts for during the coming year. I have so many to buy for and you can get so much more for your money shopping in sales etc It also alleviates fighting Xmas shopping crowds, buying last minute gifts in desperation too. It’s the stress free way to shop and you never get in debt as you spread the cost all year.

annodomini Thu 18-Jan-18 10:50:55

I've always adopted my parents' practice of giving 'big' presents for birthdays and lesser ones plus 'stocking fillers' at Christmas, so spreading costs over the year. Having said that, I do try to give the GC presents I know they really want or would like even if they didn't know it! For example, two of the GSs had combination locked cash boxes plus 'a little something' to put in them. They were very impressed.

Kim19 Thu 18-Jan-18 11:01:22

No I don't overspend ever. The very thought of debt terrifies me. Remember so vividly the stress of just making ends meet when the children were young. Never again if I can avoid it. However, next Christmas will be an interesting one for me in that I have agreed to indulge my son and his partner by only giving the GC one gift each. I am guilty of contributing to the modern 'too much stuff' brigade. Can't seem to help myself in that I get such selfish pleasure in buying things for them. Don't think it will be easy for me but I am resolved and brainwashing myself on a daily basis. So difficult.

Lilyflower Thu 18-Jan-18 11:06:16

I was terrified of overspending this Christmas as we usually spend reasonably freely and it costs quite a bit. However, my DH was made redundant in November and I have a piffling pension. We told everyone we were going to go carefully and my children (who both earn) were great about it although my DS had a hissy fit so I couldn't cut down on her, her husband or her three grown up children. (They have two very generous incomes!)

In the event we had a tax rebate and put it aside to meet overruns.

I cut down on the shopping, bought bargains beforehand and used some store vouchers I had been sent, judiciously, so that, in the end, I did not spend less than I usually do but everything went further.

After Christmas our spending went down to the basic minimum and we are nearing the end of the financial month with a few quid left in the current account and our emergency fund virtually intact.

When we were younger we found it difficult to end the month in the black but for years we have been prudent and vigilent. I have a horror of debt and am planning for next year's Christmas already. I have some very nice half price Christmas cards in the cupboard.

I find it very interesting that every post on this GN thread has said the same. We are a finacially savvy generation - though I don't think we can say the same of succeeding generations who were brought up in times of plenty.